We will gladly assist you in the design and planning of your venture regarding Helium mining to reduce the tax risk for all parties involved. WINHELLER advises you on Helium mining and cryptocurrencies Because this can also lead to tax-relevant income for the persons involved, it is also advisable to seek advice in this matter. It also plays a role in whether and how friends, acquaintances and family with whom the mining devices are placed participate in the proceeds. It therefore makes sense to seek advice from an expert in order to mitigate the tax risks in Germany. Nevertheless, depending on the scope and concrete design of Helium mining, a commercial activity and thereby income according to § 15 EStG may exist. However, there is much to suggest that the principles laid down by the OFD of North Rhine-Westphalia are not applicable to mining by radio (such as Helium mining, among others). This office generally considers income from trade or business to be relevant in the case of mining methods that are intensive in terms of computing power and electricity. So far, only the Oberfinanzdirektion (OFD), a tax office, of North Rhine-Westphalia has commented on the taxation of traditional mining transactions. Are principles of traditional mining transferable to helium mining? In this case, the income is subject to the personal income tax rate of the crypto investor and additionally to the trade tax. If, on the other hand, there is income from the trade, not only the inflow value but also the subsequent sale of the coins received through mining can be taxed. Crypto investors do not have to fear taxation when they subsequently sell “mined” coins. A private sale transaction (§ 23 EStG) does not exist in the case of a subsequent sale due to the lack of an acquisition transaction. 3 of the German Tax Income Act, EStG) or under commercial income (§ 15 EStG).īy classifying this under other income, all crypto investors have the tax advantage that only the inflow value (value of the newly generated HNT) of the cryptocurrencies is taxed at the personal income tax rate. It can be classified under other income (§ 22 No. The taxation of profits from mining in Germany has not yet been clarified. Taxation of Helium mining in Germany not yet clarified Placement of the device with third parties is also an option. A lucrative option for crypto investors is to purchase devices and then set them up in as wide a distribution as possible with acquaintances, friends and family. In contrast, “classic” mining farms, which require many devices in a small space, are penalized by the algorithm for generating Helium. As Helium aims to achieve the widest possible network coverage, hotspot operators will be particularly rewarded if devices are placed in different locations. Such a hotspot is opened by purchasing and installing a special device. Helium mining makes operating so-called hotspots attractive by paying out a cryptocurrency (Helium, or HNT for short) to hotspot operators. This mining is conducted via radio technology and thus uses much less electricity. Helium mining is completely different from traditional mining. The great disadvantage here is that the computing power required to mine Bitcoins involves very high electricity costs. The computing power is necessary to maintain the blockchain system. Miners are paid shares of BTC in return for a rendered computing service.
Mining has become popular in the crypto scene, particularly through Bitcoin (BTC).
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